The prominent cryptocurrency has once again reclaimed the $97,000 mark while the market anticipates upcoming statements from Powell. Despite the Federal Reserve’s decision in May being a known factor, a recent significant purchase by the Fed hints at a potential turning point towards monetary expansion. Although this remains a low probability event, it is not entirely ruled out. This leads us to explore what experts have unveiled today regarding the charts of Fartcoin, Virtual, and EIGEN Coin.
Fartcoin and Virtual: Market Trends and Predictions
Amidst a generally bearish market sentiment, Fartcoin and Virtual have presented lucrative opportunities through sudden price fluctuations. These market moves have caught off guard and painfully crushed those seeking to short these cryptocurrencies. A well-known analyst, under the pseudonym Altcoin Sherpa, has updated his forecasts for these two altcoins.
Previously, the analyst predicted that Fartcoin would reclaim the $1 level, and he shared a detailed chart to support his analysis.
“Fartcoin is currently at the $1 mark; I want to see this level hold. Otherwise, I will look at the $0.85 region, which aligns with the .382 fib level. Personally, I still hold a significant amount and believe it will eventually climb higher.”
Despite the initial target being reached, the analyst maintains optimism for bulls, targeting over $1.25 in the foreseeable future.
Turning to Virtual Coin, the analyst highlights a notable recovery pattern in its chart. Although not aiming for the all-time high region, the analyst asserts that a rebound after the recent decline presents a likely scenario. The 0.5 fib level indicated on the chart could be a sensible buying point, as this is where the analyst anticipates a potential bounce.
If a bounce does not occur at $1.15, other fib levels might be tested for support.
Ethereum (ETH) and EIGEN Coin: Current Market Assessment
Ethereum 
$2,636, as the largest altcoin by market cap, has not necessarily delivered expected performance. The ETHBTC pair has recently been at historical lows, showcasing significant weakness. Crypto Fella argues that we are nearing the end of an accumulation phase before a major breakout.
A catalyst for price increase is set with an upcoming major network upgrade, following the Merge, on the main network which could potentially boost Ethereum’s price.
EIGEN Coin has made a powerful entrance and gained significant attention. In the last two years, such impactful altcoins have emerged frequently, indicating a reshuffle among the top 200 cryptocurrencies during bullish peaks. Analyst Jindincrypto shared the following chart in his assessment today.
The analyst points to a potential drop near previous dip levels and suggests that long positions or spot purchases from here may be profitable.
